In May 2018, the European Union will enact broad new personal data privacy regulations that will challenge the information security systems at many companies. Overlooked, however, have been the implications for how companies manage their contracts.
To ensure compliance, companies must include necessary privacy terms and clauses as defined by the GDPR regulation into their customer and partner agreements. They will also need to manage a new set of obligations related to how data is stored, managed, shared and transferred, especially when such activities are conducted with partners or third parties. The impact on a company’s contract management process is significant and will require a close examination of its capabilities and potential gaps.
Download this special report to understand the key contract management issues that these new regulations create and why enterprise contract management is essential to ensure GDPR compliance.
*Gartner, Focus on Five High-Priority Changes to Tackle the EU GDPR, 30 September 2016